More than 250,000 New Zealanders have used ³Ô¹ÏÍøÕ¾’s tax calculator to find out how much they will receive in ³Ô¹ÏÍøÕ¾’s Back Pocket Boost tax relief plan, says ³Ô¹ÏÍøÕ¾’s Finance spokesperson Nicola Willis says.
“New Zealanders are telling us they want tax relief. New Zealand should be a country where if you work hard, you can get ahead. But after years of economic mismanagement by Labour, topped off by two years of rampant inflation, huge increases in interest rates, and a shrinking economy, most Kiwis are going backwards.
“In particular, the squeezed middle is being left behind. These are New Zealanders who work hard, sometimes juggling multiple jobs and family responsibilities, but inflation and high tax rates are eating away their incomes.
“³Ô¹ÏÍøÕ¾ will give hard working New Zealanders tax relief. ³Ô¹ÏÍøÕ¾’s Back Pocket Boost tax relief plan will increase after-tax pay for the squeezed middle, making a family with young kids up to $250 a fortnight better off, and a child-free median income worker up to $50 a fortnight better off.
“Tax relief will be delivered through a combination of adjustments to tax brackets, increases in tax credits for those on modest incomes, tax rebates for childcare costs and increases to Working for Families payments.
“³Ô¹ÏÍøÕ¾’s FamilyBoost childcare tax credit will help around 130,000 New Zealand families with young children get a tax rebate of up to $150 per fortnight.
“Our plan is carefully targeted to ensure that those who will benefit the most are working New Zealanders. It’s about time they got some relief from Labour’s cost-of-living crisis and ³Ô¹ÏÍøÕ¾ will deliver that to them.
“This election is going to be close. It is all about the economy and which party can rebuild it after six years of decline and Kiwis going backwards under Labour.
“New Zealand cannot afford another three years of the high taxing, high spending Labour Government which has seen net debt blow out from $5 billion to more than $100 billion.
“³Ô¹ÏÍøÕ¾ will rebuild the economy, end the cost-of-living crisis, lift wages and deliver better public services for all New Zealanders.”
